Equity markets in Toronto looked set Wednesday to reverse previous session's losses after euro-zone manufacturing data bounced back to growth, signaling a recovery in the region.
The S&P/TSX Composite Index ended Tuesday down 13 points to 12,745.38. Futures eked up Wednesday by 0.5%.
The Canadian dollar strengthened 0.16 cents to 97.36 cents U.S. early Wednesday
Canadian Pacific Railway's second-quarter profit more than doubled due to a jump in freight revenue.
Energy producer Encana Corp reported a 25% increase in second-quarter operating profit as oil and natural gas liquids volumes soared.
Barrick Gold Corp said on Tuesday it had agreed to sell its energy businesses for about $455 million, and would recognize a loss of $500 million in its second quarter in connection with the deals.
Loblaw Cos Ltd reported a higher quarterly profit as food and clothing sales rose throughout its stores, prompting it to raise its full-year operating income forecast in defiance of tougher competition.
Rogers Communications reported a 4% rise in quarterly adjusted net profit as wireless data revenue grew 18%
Oil whiz Cenovus Energy Inc said its second-quarter profit fell over 54%.
ON BAYSTREET
The TSX Venture Exchange added 1.86 points Tuesday to 931.24
ON WALLSTREET
Investors were in good spirits Wednesday as they pondered better-than-expected quarterly results from Apple.
Ahead of the opening bell, futures for the Dow Industrials took on 35 points, or 0.2%, to 15,548. Futures for the S&P 500 gained 5.9 points, or 0.4%, to 1,694.20 and futures for the NASDAQ climbed 30.50 points, or 1%, to 3,056.50
Apple shares were rallying after the iPhone maker reported quarterly earnings that beat expectations, easing investor anxiety about tech giant's future.
Ford posted better-than-expected profits, and said this was its best-ever second quarter in North America and Asia.
PepsiCo maker of Pepsi and Frito-Lay products, also reported a increase in quarterly profit.
Airplane manufacturer Boeing reported improved earnings and revenue, and raised its guidance for the year.
Caterpillar posted earnings and sales below forecasts. The heavy equipment manufacturer also lowered its earnings and sales outlook for the year.
Facebook and Visa are due after the close.
In other corporate news, Dell said it received a revised offer from founder Michael Dell, and would be holding a special meeting Aug. 2 to consider its options.
Apparel company HanesBrands said it reached an agreement to buy Maidenform Brands in an all-cash deal worth $575 million U.S.
On the economic front, the U.S. Census Bureau will release data on new-home sales at 10 a.m. ET.
European markets improved in morning trading after the latest euro-zone purchasing managers' index showed the region was stabilizing. Manufacturing output grew for the first time since February 2012, while the service sector saw its smallest rate of decline for 18 months.
Meanwhile, Asian markets had a mixed day after HSBC said Wednesday that its "flash" index of Chinese manufacturing purchasing managers' sentiment fell to an 11-month low in July.
Hong Kong's Hang Seng index added 0.2%, the Shanghai Composite index declined by 0.5%, and Tokyo's Nikkei 225 edged down by 0.3%.
Oil prices dipped 27 cents cents to $106.96 U.S. a barrel
Gold prices vaulted $6.20 to $1,340.90 U.S. an ounce.
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